King Industries Expanding To Waterbury

MIRANDA ZHANG, mzhang@courant.com

King Industries Inc., a manufacturer of specialty additives used in the aerospace, automotive and electronics industries, will close the transaction of purchasing a 10.75-acre industrial site at Waterbury Industrial Commons, Waterbury Mayor Neil M. O'Leary's office announced Wednesday.

The company's owner and president Richard S. King and O'Leary will sign the $750,000 purchase contract for the property, a remediated brownfield site on Thomaston Avenue, at 10 a.m. Thursday.

Based in Norwalk, the global company plans to spend $50 million over the next 10 years to build an 80,000-square-foot manufacturing facility at the industrial park. The new center will take up more than a third of the 30-acre park and will generate $1.4 million in property taxes per year, according to the release.

The family-owned firm estimates it will need 180 temporary construction jobs to complete the expansion. It also expects to create 50 permanent manufacturing jobs. King Industries currently employs 200.

"This is an extraordinary moment for Waterbury," O'Leary said. "The addition of meaningful jobs and growth in our grand list represents a positive stimulus for the city. King Industries will be a wonderful partner in our community. Their presence offers an opportunity to foster alliances with our educational institutions and community organizations."